Custom Procedure Packs Market Growth, Trends and Forecast up to 2025
Increasing geriatric population that is more likely to develop severe and chronic infectious diseases and increased volume of procedures are fueling the demand for custom procedure packs across the globe. However, lack of standard regulations in developing countries regarding custom procedure packs and the entry of new players generating pricing pressure in the market are major factors expected to curtail the usage of custom procedure packs during the forecast period.
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The Global Custom Procedure Packs Market can be segmented based on product type, usage type, and end-user. Based on product type, the market has been segmented into surgical procedure packs and minor procedure packs. The surgical procedure packs segment has been sub-divided into specialty areas such as cardiovascular, ENT, laparoscopy, gynecology, ophthalmology, orthopedics, general surgery, and others. The minor procedure packs segment has been sub-divided into catheterization, hemodialysis, regional anesthesia, wound care packs, IV therapy, and others. The minor procedure packs segment accounted for the maximum market share in 2016, which is attributable to rising preference for these packs due to their low cost and easy storage. The wound care packs sub-segment gained the maximum market share in terms of value as well as volume in 2016. The surgical procedure packs segment is expected to dominate the market during the forecast period. Introduction of highly sterilized and configured custom procedure packs in the market, which match the individual preference and clinical requirements, is a major factor estimated to propel the surgical procedure packs segment between 2017 and 2025.
Based on usage type, the global custom procedure packs market has been divided into reusable and disposable (single-use) packs. The reusable packs segment gained the maximum market share in terms of revenue in 2016, owing to the rising number of hospitals and outpatient surgical centers across the globe and increasing preference for minimally invasive procedures. However, the disposable packs segment is anticipated to register the maximum CAGR during the forecast period, owing to the rising demand for highly advanced and sterilized custom procedure packs with desired safety features.
Based on end-user, the global custom procedure packs market has been segmented into hospitals, clinics, academic institutes, diagnostic & research laboratories, and ambulatory surgical centers. The hospitals segment accounted for the maximum market revenue in 2016, owing to attempts made by governments to deliver quality health care service to patients and measures taken to maintain sterile and infection-free hospital environment. Investments by public and private players to develop more efficient operation rooms in hospitals is a major factor projected to boost the hospitals segment during the forecast period. However, the diagnostic & research laboratories segment in estimated to register the maximum CAGR from 2017 to 2025. Increasing funding by governments to promote R&D activities is estimated to propel the demand for custom procedure packs in research and diagnostic laboratories between 2017 and 2025.
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Geographically, the global custom procedure packs market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held a leading share of the global custom procedure packs market in 2016, due to high adoption of advanced surgical tools by patients as well as physicians and high number of surgical procedures conducted in the region. Europe is considered the second-largest market for custom procedure packs. However, the market in Asia Pacific is likely to expand at a significant CAGR from 2017 to 2025, owing to improved health care infrastructure in the region.
Some of the prominent players operating in the global custom procedure packs market are UNISURGE International Limited, Halyard Health, Inc., Stradis Healthcare, Multigate Medical Products, Pennine Healthcare, Cardinal Health, Smiths Medical, Becton, Dickinson and Company, and Kimberly-Clark Corporation.
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